Futures Movers: U.S. oil futures tap highs above $80, on track for weekly rise of around 5%

Oil futures rose on Friday, on track to score a roughly 5% gain for the week as U.S. prices touched highs above $80 a barrel for the first time in almost seven years, while natural-gas futures edged lower, pulling back from the nearly 13-year high seen earlier in the week.

U.S. benchmark crude prices rallied to a nearly seven-year high even though Russian President Putin announced on Wednesday Gazprom would increase natural-gas exports to Europe, while U.S. officials reportedly indicated no intention to release crude oil…

This post was originally published on Market Watch

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